AUD/USD – 1H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance line at is likely expected.
Caution: A possible trend reversal in the direction of the support level at 0.65011 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ chart pattern is existing. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 0.66616 |
| Next Low | 0.65011 |
| 2nd Low | 0.64621 |
| 3rd Low | 0.64147 |
0.66352 – 0.66193 – 0.65983 – 0.65011 – 0.64621 – 0.64696 — 65.368555149249 – 65.589649025663 — 46.407595602545 – 21.475305333692 – 70.90173381451 – 46.247825749257
Trading Signals: FOREX – AUD – AUD/USD – USD – Northern Doji – – –